Current liabilities are reported on the balance sheet at
A)current market value.
B)historical cost.
C)discounted present value.
D)future value.

Question

Quizplus · Accepted Answer

Current liabilities are reported on the balance sheet at historical cost, which is the amount of money that was originally paid or agreed to be paid for the liability. This reflects the amount owed at the time it was incurred and provides a more accurate picture of the company's financial obligations. Reporting at current market value, discounted present value, or future value would not be appropriate for current liabilities.

Current Liabilities Are Reported on the Balance Sheet at